View Image

UK households have been warned that "tax rises are coming" in Chancellor Rachel Reeves' Autumn Budget.

Her statement is due on November 26, with Paul Barham, head of international private client tax at Forvis Mazars , said tax hikes are "almost certain"

He said: "Tax rises are coming and will impact financial planning.

"Tax by stealth is more likely than any large-scale overhaul, due to promises made in the manifesto and repeated at the Labour Party conference not to increase VAT, income tax or National Insurance.

"We can expect to see a continued freeze on income tax thresholds, a subtle but effective way to increase revenue as wage inflation pushes more people into higher tax brackets.

"The Government may also close tax advantage schemes that have so far avoided atte

See Full Page